THE new investment priorities plan (IPP) for 2012 has added two new industries in the preferred activities list.
Iron and steel and hospital and medical services have been included in the new IPP, which was approved last June.
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Activities listed in the IPP are entitled to fiscal and non-fiscal incentives such as tax holidays and waived fees from the government to entice investors to invest in such industries, said Board of Investments (BOI) Governor Gerardo Sta. Ana.
The government has scheduled a series of roadshows throughout the country to inform local business organizations and local governments about the IPP so they can do their part in promoting these sectors. The show for Central Visayas will be held in Bohol in October.
For the region, the focus will be on tourism, information technology, metalworks and processed food.
The Philippine IPP lists 13 industries in the preferred activities list, which include agriculture, agribusiness and fishery; creative industries and knowledge-based services; shipbuilding; mass housing; iron and steel; energy; infrastructure; research and development; green projects; motor vehicles; strategic projects which exhibit high social economic returns that can contribute significantly to economic development;
hospital and medical services; disaster prevention, mitigation and recovery projects.
Iron and steel covers basic iron and steel products, long steel products like billets and reinforcing steel bars and flat hot or cold rolled products.
Hospitals
As for medical and hospital services, the IPP covers establishment and operation of
primary and secondary hospitals.
Existing laws also require the government to include in the IPP those in industrial tree plantation; exploration, mining, quarrying and processing of minerals; publication or printing of books; refining, storage, marketing and distribution of petroleum products; ecological solid waste management; clean water projects; rehabilitation, self-development and self-reliance of persons with disability; renewable energy and tourism.
For tourism, the IPP covers tourism enterprises that are outside of the tourism enterprise zones (TEZ) and are engaged in tourist transport services, establishment and operation of accommodations, convention and exhibition facilities, amusement parks, adventure and ecotourism facilities, sports and recreational facilities, theme parks, health and wellness facilities, agri-tourism farms and tourism training centers. It also covers the development of retirement villages and the restoration or preservation of historical shrines, landmarks or structures.
In support of exporters, the IPP will also cover the manufacture of export products, services exports and activities.
In his message for the IPP, President Aquino said this year’s IPP plan was crafted to focus on job creation, enhanced delivery of social services, international
competitiveness and climate change mitigation and adaptation.
He said the IPP plan is a commitment to the business community that his administration wants to sustain a predictable, reliable and efficient investment landscape for the country.
In 2011, the BOI posted investment approvals of over P368 billion.
Published in the Sun.Star Cebu newspaper on August 31, 2012.
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